Margaret Thatcher Swot Analysis

To What Extent Did Margaret Thatcher’s Leadership Contribute to the UK’s Economic Strength in the 1980s?

Margaret Thatcher was the first and only serving female Prime Minister of the Unite Kingdom from 1979 to 1990. She was leader of the Conservative Party and nicknamed “The Iron Lady” due to her inflexible politics and leadership skills. The policies that Thatcher implemented are known as Thatcherism and shaped the way the UK is at present day.

Margaret Thatcher believed in free markets rather than government intervention, such as policies of denationalisation. The increase in efficiency by using supply side policies like privatisation and income tax cuts. Thatcher reduced the power of trades unions so as labour market flexibility could be

By doing this in 1983 the inflation rate had decreased by 5% (Source A), however, the control over inflation resulted in the economic recession of 1981 and high unemployment rates of over 3 million people without work.

A letter signed by 365 economists was signed and sent to the Times newspaper stating that the economic policies of the UK should be reversed to aid the end of the recession (Source B). Thatcher responded with her well-known speech in 1981 to the Conservative party conference. However, great politics were shown, a decline in the Gross Domestic Product (GDP) and the unemployment crisis stayed unresolved until the mid-1980s.

Thatcher held it as a main priority to reduce the power of trade unions to end industrial disputes as poor industrial relations where a large contributing factor to holding back the industrial sector of England. Work days lost to striking decreased largely in 1980, due to improved industrial relations. Thatcher had partial part to play in this success for reasons such as ending the right to secondary picketing, compulsory ballots and ending closed shops. However the reduction in trade union was also caused by other implications such as the decline in British manufacturing, the heavy industry and the before mentioned unemployment

Poll tax was taxation that was to replace domestic rates. It provided for a single flat-rate per-capita tax on every adult, at a rate set by the local government. Saturday, 31 March 1990 (Source C) was known as the largest protest against poll tax. It took place in London central. This event took place shortly before the tax was due to come into being in England and Wales. The chaos in London rose from a morning rally which became a violent battle between the Metropolitan Police Service and protesters, which ended in rampaging and plundering of London until 3 a.m. Sunday, 1 April